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8 Oct, 3 tweets, 1 min read
Tariffs are taxes. #VPDebate
Read how Trump's tariffs on steel imports did create 8,700 jobs in the US steel industry.

But, for each new job in the steel industry, steel-using firms will pay an extra $650,000 for each job created.
piie.com/blogs/trade-in…
We have a lot to say about this. Check out all our research on US-China trade policy here: piie.com/research/trade…

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More from @PIIE

Peterson Institute Profile picture
7 Oct
NOW: @_AnabelG is discussing agriculture trade and COVID-19: trade barriers, food security and WTO reform, at #PIIETradeWinds with @JoeGlauber1 & Sherman Robinson.

Watch here and follow along for opening remarks: piie.com/events/agricul…
In the initial days of COVID-19, the pandemic and its containment measures placed unprecedented stress on all segments of food supply chains, including farm production, food processing, transport and logistics, and final demand.
Rising concerns of a global food crisis were further exacerbated by the adoption of export curbs on the part of several countries, mostly in March and April.
Read 9 tweets
Peterson Institute Profile picture
25 Jun
🇺🇸THREAD🇫🇷
Economic responses to the #COVID19 crisis varied widely. In their latest research, @pisaniferry & @cohensetton look at French & US responses & find that the US response was 💰more expensive💰 but 📉less effective📉 than the French approach.
We explain... (1/11)
Taking all policy responses into account, the size of the US fiscal package to support households is nearly twice as large as the French package, as proportion of each country's GDP:
🇺🇸: 6.3% of GDP
🇫🇷: 3.4% of GDP
(2/11)
The American job retention schemes are about 50% more expensive than the French counterpart, chômage partiel. The difference is explained by the differences in efficiency of the schemes, not the actual magnitude of relief provided. (3/11)
Read 11 tweets
Peterson Institute Profile picture
7 May
With respect, Senator Hawley, the claims you made in the original op-ed and in this thread are misleading. The WTO isn’t perfect, but there are lots of ways to make the global trading system better without abandoning the system entirely. Our own thread...
The US cannot unilaterally disband the WTO. It can only singularly withdraw. By withdrawing, the US basically self-isolates while other countries continue to participate in the WTO and puts US exporters at risk of much higher tariffs and other barriers in foreign markets.
It’s true that China & the US are classified differently. However, even though China self-classifies as a “developing country,” its obligations under WTO rules are more comparable to that of developed countries.
Read 13 tweets
Peterson Institute Profile picture
14 Apr
THREAD: The Eurogroup and EU's finance ministers agreed to a #COVID19 emergency rescue package that contains four main components. Here's what the package does...
1⃣The European Investment Bank (@EIB) gets an additional €25 billion to establish a pan-European guarantee fund, aimed at using leverage to support €200 billion of financing for EU companies, particularly small and medium enterprises (#SMEs).
2⃣...calls upon the European Stability Mechanism (#ESM) to make up to 2% of a member state's GDP (in total up to roughly €240 billion) available in pandemic crisis support.
Read 6 tweets
Peterson Institute Profile picture
18 Oct 19
NOW: Watch panelists @jasonfurman, @HilaryHoynes, and Jesse Rothstein, and chair @joshbivens_DC discuss social safety nets, like universal basic income #UBI, unemployment insurance, and more. Tune in #Inequality2019: piie.com/events/combati…
@jasonfurman @HilaryHoynes @joshbivens_DC .@jasonfurman is discussing tax and transfer systems at #Inequality2019. piie.com/events/combati…
@jasonfurman @HilaryHoynes @joshbivens_DC Macro policies can help with pre-tax wages, especially at the bottom, says @jasonfurman. #Inequality2019 piie.com/events/combati…
Read 8 tweets
Peterson Institute Profile picture
24 Sep 19
THREAD: @jfkirkegaard outlines the three political and economic implications a higher carbon tax has for the European Union... (1/7)
1/A carbon border adjustment tax is inevitable—an EU carbon tax puts EU businesses at a disadvantage vs. imports. An adjustment tax would effectively set tariffs on imports from economies without equivalent carbon prices, which could stir confrontation with the US & others. (2/7)
2/Carbon revenues will change the distribution of EU revenue generation & disbursements. Shifting away from carbon fuels means some government revenue will disappear, so governments will have to retain at least some of the new carbon revenue... (3/7)
Read 7 tweets

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